I flipped cautiously bullish last week. As I suspected, the prospects for a bounce were not as good as the previous time the stock market was similarly over-stretched. The S&P 500 gained 1.1% in a week of choppy, slow-motion, trading action.

The plunge in the VIX, says it all…the stock market is ready to return to its originally scheduled programming, the resumption of the previous momentum on narratives of high consumer confidence, a strengthening U.S. economy and robust global growth.

It was by the slimmest of margins, but the S&P 500 (SPY) finally ended the last week with a loss. After 8 straight weeks of gains, the index closed the last week with a 0.2% loss as Friday slipped by 0.1%.

PARTNER HEADLINES

Latest Tweets for $LOCO

$LOCO

The 50 and 200DMAs are already essentially converged and flatline for $LOCO. About as tame as you can get. I like to see this as a trading range until proven otherwise. And if it is a breakout, I think that point might be too late to get a good risk/reward entry. I am a bit confused how/why someone would have purchased $PLKI for $79 prior to Feb 21. There should have been lower offers available.

Although $LOCO looks stable now, the moving averages look like they will intersect soon, which is a buy/sell signal. I think that the signal is contingent on how $QSR proceeds in the acquisition. Moreover, recent developments suggest that the those who purchased $PLKI at $79/share prior to 21 February may have been taken advantage of. #Investigations are being conducted into the fairness of the aforementioned bid price.